Publication:
Islamic Unit Trust Waqf: References from PMB Investment Berhad.

Thumbnail Image

Files

Islamic Unit Trust Waqf; References from PMB Investment Berhad..pdf (380.09 KB)

Date

2021

Authors

Journal Title

Journal ISSN

Volume Title

Publisher

Universal Publishers - Boca Raton, Florida, USA

Research Projects

Organizational Units

Journal Issue

Abstract

Purpose: Development of the industry in the form of collective investment has become an important factor in the Malaysian Financial System, especially the industry in the field of unit trusts. Islamic unit trusts prioritise quantitative and qualitative criteria set by Syariah guidelines. Waqf is a way to help the socio-economy development of the ummah and investment is an initiative to grow one's assets. This study displays a waqf model of Islamic unit trust that has been launched by PMB Investment Berhad (PMBI) to expand and sustain the existing waqf assets. Design/methodology/approach: This study was used a qualitative approach by focus group and web-based document to gain in-depth understanding of waqf mechanism that apply in unit trust investment and the benefits consist of asset or investment growth, investment protection via takaful coverage and charitable endowment under Islamic law (waqf). Findings: The result of this study found a new framework of unit trust waqf model that consist of three elements of waqf that contribute from income distribution, management fee and takaful protection. Research limitations/implications: The findings of the present study indicate that unit trust waqf concept are the important determinants on the sustainability of Waqf institutions with innovation instrument of investment to develop and sustain waqf assets. Practical implications: The findings of this study can help Islamic Fund Management company and unit trust industry to diversify and multiply new waqf funds with the privileges of waqf combine elements of investment and takaful. Originality/value: This framework is important in the process of helping and developing the socio-economy of the ummah and it can be used as a reference in efforts to further develop ideas and research on waqf by investment and takaful in the future. Copyright of Global Business & Management Research is the property of Global Business & Management Research and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract.

Description

Global Business and Management Research: An International Journal Vol. 13, No. 4s (2021)

Keywords

Malaysia, Investment, Islamic unit trust, Unit trust waqf, Mutual fund, Syariah

Citation

URI

http://www.gbmrjournal.com/pdf/v13n4s/V13N4s-43.pdf
 https://web.p.ebscohost.com/abstract?site=ehost&scope=site&jrnl=19475667&AN=155251234&h=64tgLva%2frUkua2iSDsOdGP7UlnOuZHKRLNt7hrOTMSx1Xon81j0uekfsoZjSZICPhvaT0nHxArVNo2m1MlMgQw%3d%3d&crl=c&resultLocal=ErrCrlNoResults&resultNs=Ehost&crlhashurl=login.aspx%3fdirect%3dtrue%26profile%3dehost%26scope%3dsite%26authtype%3dcrawler%26jrnl%3d19475667%26AN%3d155251234
 https://oarep.usim.edu.my/handle/123456789/6425

Collections

Other Publications